The Federal Government has approved a N32,000 monthly pension increase for retirees in line with the revised minimum wage policy.
This adjustment comes after a thorough review by a committee tasked with evaluating salary structures across various sectors.
The National Salaries, Wages, and Income Commission (NSIWC) confirmed that the increase applies to retirees from sectors including health, education, the military, paramilitary, and police forces, among others, under specific salary schemes.
The pension adjustment will be retroactively effective from July 29, 2024, in accordance with the National Minimum Wage (Amendment) Act of 2024.
Retirees from agencies not covered by the specified salary structures are encouraged to contact the NSIWC for information on the applicable pension increase in their sectors.
This move aligns with President Bola Tinubu’s commitment to enhancing the welfare of workers and retirees under the new minimum wage law signed in July 2024.
